Personalis (NASDAQ:PSNL) Price Target Lowered to $29.00 at Truist

Personalis (NASDAQ:PSNL) had its price target reduced by Truist from $37.00 to $29.00 in a research note issued on Thursday, The Fly reports. The brokerage currently has a “buy” rating on the stock. Truist’s price objective points to a potential upside of 46.91% from the stock’s previous close.

PSNL has been the subject of a number of other research reports. Needham & Company LLC cut their price target on shares of Personalis from $38.00 to $33.00 and set a “buy” rating for the company in a research note on Wednesday. HC Wainwright raised their target price on Personalis from $30.00 to $50.00 and gave the stock a “buy” rating in a research report on Wednesday, January 13th. Oppenheimer upgraded Personalis from a “market perform” rating to an “outperform” rating and set a $28.00 price target on the stock in a research report on Wednesday. Finally, Morgan Stanley cut their price objective on Personalis from $38.00 to $35.00 and set an “overweight” rating for the company in a report on Thursday. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $35.50.

PSNL opened at $19.74 on Thursday. The stock has a market cap of $866.74 million, a PE ratio of -18.62 and a beta of 1.71. Personalis has a 1 year low of $10.09 and a 1 year high of $53.46. The stock’s 50 day simple moving average is $22.77 and its 200-day simple moving average is $31.17.

Personalis (NASDAQ:PSNL) last announced its quarterly earnings results on Wednesday, May 5th. The company reported ($0.29) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.37) by $0.08. Personalis had a negative net margin of 45.13% and a negative return on equity of 27.53%. Analysts anticipate that Personalis will post -1.13 earnings per share for the current year.

In other Personalis news, insider Richard Chen sold 1,130 shares of the stock in a transaction on Wednesday, March 17th. The stock was sold at an average price of $26.73, for a total value of $30,204.90. Following the transaction, the insider now directly owns 83,317 shares in the company, valued at approximately $2,227,063.41. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Aaron Tachibana sold 3,022 shares of the stock in a transaction on Tuesday, March 2nd. The shares were sold at an average price of $32.60, for a total value of $98,517.20. Following the completion of the transaction, the chief financial officer now owns 170,269 shares in the company, valued at $5,550,769.40. The disclosure for this sale can be found here. In the last quarter, insiders have sold 46,943 shares of company stock worth $1,232,951. 8.20% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently modified their holdings of PSNL. Renaissance Technologies LLC bought a new position in Personalis in the first quarter valued at about $16,565,000. State of Michigan Retirement System bought a new position in shares of Personalis in the 4th quarter valued at about $14,788,000. Dimensional Fund Advisors LP grew its position in shares of Personalis by 393.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 387,950 shares of the company’s stock worth $9,569,000 after buying an additional 309,287 shares during the period. Pier Capital LLC bought a new stake in shares of Personalis during the fourth quarter worth approximately $11,006,000. Finally, JPMorgan Chase & Co. lifted its holdings in Personalis by 8.8% in the first quarter. JPMorgan Chase & Co. now owns 3,635,289 shares of the company’s stock valued at $89,464,000 after buying an additional 295,200 shares during the period. 65.46% of the stock is currently owned by institutional investors and hedge funds.

Personalis Company Profile

Personalis, Inc operates as a cancer genomics company worldwide. The company provides sequencing and data analysis services to support the development of cancer therapies. It offers NeXT Platform, which provides data for cancer therapy development, personalized therapies, therapy selection, and diagnostics.

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Analyst Recommendations for Personalis (NASDAQ:PSNL)

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